According to the latest Nielsen Global Consumer Confidence Survey released earlier in the week, consumer sentiment around the world is on the mend with an increase of 5 points on its Consumer Confidence Index.
According to the report the Nielsen Global Consumer Confidence Index, conducted in 28 markets (including Australia) in June 2009, rose to 82, compared with an index of 77 in March 2009.
“In the previous Nielsen Global Consumer Confidence survey conducted in March, we were seeing the first signs that as far as the world’s consumers were concerned, the recession had bottomed out. Three months later, they’re starting to embrace the idea of recovery – which is a major turning point,” said Jonathan Banks, business insights director, The Nielsen Company.
On the local front, Australia saw an increase of 3 points, from 92 to 95 points, and has one of the highest indexes in the report. New Zealand didn’t fare as well, dropping one point from 90 to 89.
“This is one of the strongest indicators of a global consensus among consumers that the worst is over, and that finally, there is light at the end of this long tunnel. And consumers in emerging and Asian markets are clearly of the view that they are driving in the recovery lane now,” added Banks.
“Positive economic news and growing consumer optimism in the past few months have definitely led consumers in these markets to believe that economic recovery will come sooner rather than later.”